Strategic Analysis of Reciprocating Air Compressor Market
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The global reciprocating air compressor market can be segmented based on method of action, product type, end-user industry, and region. In terms of method of action, the reciprocating air compressor market can be bifurcated into single acting and double acting. Single acting reciprocating air compressor accounted for a major share of the market in 2017 and is likely to continue its dominance during the forecast period. This type of compressor is extensively used in places such as small workshops and houses due to its ease operation and portability. Double acting reciprocating air compressor is used in high-pressure services. Based on product type, the reciprocating air compressor market is segmented into stationary and portable. Portable reciprocating air compressor is expected to expand at a significant pace during the forecast period. Positive outlook related to oil & gas exploration and mining activities coupled with rise in construction activities in developing countries are the major factors which is expected to increase the demand for portable reciprocating air compressors between 2018 and 2026.
In terms of end-user industry, the reciprocating air compressor market can be divided into oil & gas, manufacturing, health care, home appliances, food & beverages, semiconductor & electronics, mining, and others. The manufacturing segment held a significant share of the market in 2017. It is likely to dominate the market during the forecast period. Manufacturing companies such as automotive, construction equipment, and other products use compressed air to operate pneumatic tools, cutting equipment, welding equipment, and molding equipment, among others. Expansion of the manufacturing sector, especially in Asia Pacific which is manufacturing hub drives the demand for reciprocating air compressor.
Reciprocating air compressor Market: Region-wise Outlook
Based on region, the global reciprocating air compressor market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held a major share of the reciprocating air compressor market in 2017. It is likely to dominate the market during the forecast period. Companies across the globe are focusing on Asia Pacific, as it is a high potential region for various industries. Growing end-user industries such as manufacturing, health care, and electronics are major factors driving the reciprocating air compressors market in Asia Pacific. The reciprocating air compressor market in Asia Pacific is projected to expand at a significant pace in the near future. After Asia Pacific, Europe constituted a major share of the reciprocating air compressors market in 2017. Presence of leading automotive companies where reciprocating air compressors are used in production lines and other purposes. Growth in the automotive industry across all regions along with Europe drives the demand for reciprocating air compressor.
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Reciprocating Air Compressor Market: Key Players
The global reciprocating air compressor market is competitive due to the presence of large and small companies at the global and regional level. Some of the prominent companies operating in the reciprocating air compressor market include Atlas Copco, Ingersoll-Rand, Elgi Compressors USA, Inc, Kaeser Kompressoren, Gardner Denver, Inc., and Belaire Compressor. Companies are focusing on product innovation, pricing strategy, and strong distribution network to gain competitive advantage over the market. Some companies focus on strategic partnerships and acquisition to expand their business segments.
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